In 2015, makeup guru Pat McGrath swiftly gathered the fashion industry in her cosmetic creations and never loosened her grip. Since then, her products have been a mainstay in consumers’ makeup bags and on runways for the world’s top fashion houses.
Today, Pat McGrath Labs has reached the $1 billion value mark after a $60 million investment by Eurazeo Brands, Fashionista reports. The investment became part of an $88 million tally of funding as well. The news was accompanied by a note McGrath published on Instagram, thanking her team for their efforts.
“Labs exists to break the mold, and you are why I do what I do,” the note reads. “Thank you for your boundless self-expression and your divine passion to a new standard of beauty.” In a statement issued to Fashionista, McGrath echoed those sentiments and conveyed her excitement.
“We have been so blessed to have such an engaged and passionate customer base and the aim is to continue to provide them with more groundbreaking, straight-from-the-runway products and a makeup experience that they cannot get anywhere else,” she said. “I get so much joy and satisfaction when I see how much our loyal customers love the products, it fuels us to come up with even more innovative creative ideas.”
The makeup conglomerate includes lip glosses, eyeshadow palettes, highlighters, eyeliners and more, sold online at the company’s website or at Sephora.
The news, however, inserted another name into the mix. Kylie Jenner, who recently landed the cover of Forbes for her cosmetic business, sparked reactions from Twitter users who called for McGrath to receive the same media spotlight as Jenner.